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Panera Bread Shares Popped: What You Need to Know

Is this meaningful? Or just another movement?

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of scrumptious restaurant chain Panera Bread(Nasdaq: PNRA) were cooking today, jumping 17% after the company released earnings and outlook that topped expectations.

So what: In the fourth quarter, earnings reached $1.21 per share from $0.95 last year, topping estimates of $1.18 by analysts. The company expects earnings to be as much as $4.45 next year, up from a previous estimate of $4.35.

Now what: Panera and Chipotle Mexican Grill(NYSE: CMG) both reported outstanding earnings yesterday as they continue to prove high-quality food will keep the customers coming. Both stocks are a bit on the expensive side with Panera trading at 26.3 times next year's earnings estimate, but they both seem to be worth it. I am going to stick with this Motley Fool Stock Advisor pick and think Panera will continue to serve up outstanding results. Speaking of, Panera Bread sounds great right now.